Binance
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Vs.

Eightcap
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Binance Vs. Eightcap - Compare and Choose the Right One

Updated May 13 2022

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Investing in cryptocurrencies involves risk.

Visit

Your capital is at risk.

Overview

Binance is a global cryptocurrency exchange founded in 2017 in China with the aim of providing the ultimate trading solution. Currently, they offer more than 700+ cryptocurrencies, derivatives (such as Vanilla options, futures, staking), a Launchpad platform for ICOs and many more services such as several trading platforms with different complexity levels.

Eightcap is an Australian MT4 & 5 CFD broker founded in 2009 that specialises in currency, commodities, indices, stocks and cryptocurrency trading.

Best For
  • Avid cryptocurrency traders and investors from intermediate to expert levels
  • Day traders looking for a high liquidity exchange with competitive fees
  • Traders familiar with MT4 and MT5 platforms
  • High volume traders looking for their specific asset offering combined with their Raw account’s low spreads
  • Cryptocurrency speculators looking for CFDs on major pairs with low spreads
Licenses

Financial
Licenses

Regulation

Unregulated

Top-tier Licenses

0

Other Licenses

0

Provided by
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Financial
Licenses

Regulation

Regulated

Top-tier Licenses

1

Other Licenses

1

Provided by
TheTradingBible.com

Learn More
🏛 Financial Regulators

None, not required at the moment.

  • ASIC (Australia)
  • SCB (Bahamas)
The Good
  • Largest cryptocurrency exchange in the world by liquidity
  • Massive cryptocurrencies selection available (700+)
  • Large amount of financial products in the form of derivatives (Vanilla options, futures, etc)
  • Advanced trading platforms with visual order books at no cost
  • Low spreads offered in their raw account
  • Wide variety of cryptocurrency pairs with low spreads
The Bad
  • Interface can be complex to use for beginners
  • The wide selection of products and derivatives can also be intimidating for beginners
  • Asset offering is low when compared to similar competitors
  • Lacks platform variety as only MT4 & 5 are available
  • All assets are CFDs, there is no ability to buy real shares
Status
Operational Operational
Recent News
N/A 1 Day
Key Data
⌛ Account Opening Time
1 Day 1 Day
📋 Documents Required

Only to increase withdrawal limits:

  • Valid identity document (Passport, ID Card, etc)
  • Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

  • Valid identity document (Passport, ID Card, etc)
  • Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

📍 Year Founded
2017 2009
💳 Minimum Deposit
0 $100
💰 Payment Methods
  • All supported cryptocurrencies
  • Bank transfers
  • Visa
  • Mastercard
  • Visa
  • Mastercard
  • Skrill
  • Neteller
  • Paypal
  • Bank Transfer
  • Fasapay
  • POLi Payment
  • CUP (China Union Pay)
  • BPAY
💵 Account Base Currencies
All supported cryptocurrencies. 7 - AUD, CAD, EUR, GBP, NZD, SGD, USD.
🗽 Available to U.S Citizens
Yes (excluding few states) No
❌ Restricted Countries
None

US, CA, SY, IR, CY.

📊 STP Account
No No
📊 DMA Account
No No
📊 ECN Account
No No
Assets
📚 Available Assets
  • More than 700+ real cryptocurrencies
  • A wide selection of derivatives based on real cryptocurrencies such as futures, vanilla options, etc.

CFDs on stocks, commodities, indices, currencies and cryptocurrencies.

📙 Stocks
N/A 600+
📘 Currency Pairs
N/A 45
📗 Commodities
N/A 5
📕 Indices
N/A 15
📔 ETFs
N/A N/A
💸 Cryptocurrencies
700+ 250+
📒 Bonds
N/A N/A
📓 Options
N/A N/A
📗 Futures
N/A N/A
📝 Notes:

Binance specialises in real cryptocurrencies and tokenised derivatives based on their own cryptocurrency offering.

All of Eightcap’s assets are CFDs.

Trading Experience
📈 Minimum Stock Trade Size
N/A $1,000 (0.01 Lots)
📉 Minimum ETFs Trade Size
N/A N/A
📈 Minimum Crypto Trade Size
$10 $1,000 (0.01 Lots)
📉 Minimum FX Trade Size
N/A $1,000 (0.01 Lots)
📈 Minimum Commodities Trade Size
N/A $1,000 (0.01 Lots)
📉 Minimum Bonds Trade Size
N/A N/A
📈 Minimum Futures Trade Size
N/A N/A
📉 Minimum Options Trade Size
N/A N/A
💪 Retail Leverage
Up to 1:20 Up to 1:30
💪 Professional Leverage
N/A Up to 1:500
✍ Customisable Leverage
N/A Yes
🎲 Deleveraged Trading
Yes No
🎓 Demo Account
No Yes
📱 IOS App
Yes No
📱 Android App
Yes No
📺 MetaTrader 4
No Yes
📺 MetaTrader 5
No Yes
💻 Web trader
Yes Yes
💻 TradingView Platform
Yes No
💻 Proprietary Platform
Yes No
📊 Multi-chart Tools
Yes Yes
👬 Copy Trading
No No
👫 Social Trading
No No
🔑 Guaranteed Stop-loss
No No
🔨 Trailing Stop-loss
No Yes
Fees
💰 Inactivity Fee
No No
💰 Deposit Fees
No No
💰 Withdrawal Fees
No No
💰 Commissions

Binance charges a fixed 0.1% trade value fee for spot trades.

Depending on account type:

  • Standard account has no commissions but spreads start from 1 Pip
  • Raw account has a $3.5 commission per lot round turn but spreads start from 0 Pips
Spreads
📈 EUR/USD
N/A From 0 to 1 Pip
📉 SP500
N/A From 40 Pips
📈 GOLD
N/A From 21 Pips
📉 TSLA (Stock CFD)
N/A N/A
📈 XLK (ETF - CFD)
N/A N/A
📉 BTC
Dynamic - From $1 Dynamic - From $16
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
No No
🗓 Economic Calendar
No No
📜 Integrated Newsfeed
No No
📡 Reuters Feed
No No

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